June 22nd, 2012
07:59 PM ET

Will Congress kick the can on spending cuts and tax hikes?

It's part of America's "fiscal cliff:" the U.S. Defense Department is slated to lose $600 billion in funding at the end of the year as drastic spending cuts kick in to help rein in the ballooning deficit.

All this could have been avoided – remember the Super Committee? – but no deal was ever struck, and America is still facing a combination of tax hikes and spending cuts at the end of this year that could easily push us back into a recession.

But some members of Congress are determined to find away around the cuts – it's true that our economy would grow faster without them. Others believe that the most we can hope for in an election year is a short-term fix that puts off the hard work until 2013.  Rep. Loretta Sanchez (D – California), a member of the House Armed Services Committee, comes OutFront to discuss.

Filed under: Economy • National Security • Politics
soundoff (2 Responses)
  1. J

    "Germany didn't do that well by following Hitler" -THIS _is_ funny..."Germany didn't do that well...etc." HA,HA,HA.

    June 25, 2012 at 2:39 pm | Reply
  2. Dave

    Defense cuts sound like a great idea to me. About 80% would be appropriate. But I suppose you are employed for taking the same historical perspective of Goebbels and are pushing for the continuation of policies that enrich the warmongers. Germany didn't do that well by following Hitler. The people who choose to perform the same service for our current warmongers should read a little history and consider the downside.

    June 24, 2012 at 10:48 pm | Reply

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